AETOS Capital Exposes Chinese Affiliate's Blackmail Attempt
- The plan was to put pressure on the local government and police by contacting the media after hanging protest banners in ten cities.
The Chinese business environment is known to be harsh, full of cutthroat competition and bare-knuckle tactics. The country's Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term industry is no exception as some brokers have already discovered after undergoing various ordeals ranging from DDos to physical attacks.
On Friday we reported that, according to media reports from China, a large group of traders and Affiliates Affiliates Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers are compensating affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition T Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers are compensating affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition T Read this Term came to the local offices of an international broker to protest wrongdoings, posting photos of the incident. The complete picture of the situation has now emerged, showing the broker as the victim of a blackmail attempt.
The firm has shared documents with Finance Magnates revealing that the mastermind behind the protest was a certain Mr. Yang, an affiliate of AETOS who had simply lost money trading with the broker. Mr. Yang thought he had performed a valuable service and therefore deserved a reward for his efforts in his affiliate capacity. Therefore, he demanded that AETOS return all of his client's initial deposits to him, and in order to achieve this purpose, tried to extort AETOS.
In emails sent to the broker, Mr. Yang used previous incidents of IronFX as examples, threatening AETOS that he would take action if they refused to return his funds. His plan was to put pressure on the local government and police by contacting the media after hanging protest banners in ten cities where AETOS offices are located.
As the broker is regulated by ASIC, it has a clear compliance procedure for customers. If he indeed had a case, Mr. Yang should have reported it to the Australian watchdog, gone to the Chinese authorities or even taken a legal approach and sued AETOS. He did not do any of the above and made the decision to try and extort the broker. He also spread false rumors that the broker has a small office and a staff of four people in Australia, forcing AETOS to publish photos of its offices to prove its size to Chinese clients.
In addition to the blackmail emails sent from Mr. Yang, AETOS also shared with us letters of complaint to the Shanghai Police and Chinese Embassy in Australia, both sent back in May.
The Chinese business environment is known to be harsh, full of cutthroat competition and bare-knuckle tactics. The country's Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term industry is no exception as some brokers have already discovered after undergoing various ordeals ranging from DDos to physical attacks.
On Friday we reported that, according to media reports from China, a large group of traders and Affiliates Affiliates Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers are compensating affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition T Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers are compensating affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition T Read this Term came to the local offices of an international broker to protest wrongdoings, posting photos of the incident. The complete picture of the situation has now emerged, showing the broker as the victim of a blackmail attempt.
The firm has shared documents with Finance Magnates revealing that the mastermind behind the protest was a certain Mr. Yang, an affiliate of AETOS who had simply lost money trading with the broker. Mr. Yang thought he had performed a valuable service and therefore deserved a reward for his efforts in his affiliate capacity. Therefore, he demanded that AETOS return all of his client's initial deposits to him, and in order to achieve this purpose, tried to extort AETOS.
In emails sent to the broker, Mr. Yang used previous incidents of IronFX as examples, threatening AETOS that he would take action if they refused to return his funds. His plan was to put pressure on the local government and police by contacting the media after hanging protest banners in ten cities where AETOS offices are located.
As the broker is regulated by ASIC, it has a clear compliance procedure for customers. If he indeed had a case, Mr. Yang should have reported it to the Australian watchdog, gone to the Chinese authorities or even taken a legal approach and sued AETOS. He did not do any of the above and made the decision to try and extort the broker. He also spread false rumors that the broker has a small office and a staff of four people in Australia, forcing AETOS to publish photos of its offices to prove its size to Chinese clients.
In addition to the blackmail emails sent from Mr. Yang, AETOS also shared with us letters of complaint to the Shanghai Police and Chinese Embassy in Australia, both sent back in May.